Zweig DiMenna Associates LLC acquired a new stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 42,000 shares of the company’s stock, valued at approximately $3,108,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in New Oriental Education & Tech Grp by 17.0% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 114,793 shares of the company’s stock valued at $8,495,000 after acquiring an additional 16,700 shares during the period. Bank of Montreal Can lifted its holdings in shares of New Oriental Education & Tech Grp by 31.0% in the 3rd quarter. Bank of Montreal Can now owns 264,148 shares of the company’s stock worth $19,550,000 after buying an additional 62,458 shares during the period. Manning & Napier Group LLC lifted its holdings in shares of New Oriental Education & Tech Grp by 66.0% in the 3rd quarter. Manning & Napier Group LLC now owns 58,370 shares of the company’s stock worth $4,319,000 after buying an additional 23,215 shares during the period. Daiwa SB Investments Ltd. lifted its holdings in shares of New Oriental Education & Tech Grp by 4.8% in the 3rd quarter. Daiwa SB Investments Ltd. now owns 26,400 shares of the company’s stock worth $1,954,000 after buying an additional 1,200 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of New Oriental Education & Tech Grp by 5.8% in the 2nd quarter. Northern Trust Corp now owns 929,845 shares of the company’s stock worth $88,018,000 after buying an additional 51,046 shares during the period. Institutional investors own 88.79% of the company’s stock.

Shares of EDU stock opened at $61.60 on Tuesday. New Oriental Education & Tech Grp has a twelve month low of $58.17 and a twelve month high of $108.40. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 0.99 and a beta of 1.15.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $672.44 million. New Oriental Education & Tech Grp had a return on equity of 15.17% and a net margin of 12.10%. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts predict that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current fiscal year.

EDU has been the subject of several research reports. Morgan Stanley cut New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut New Oriental Education & Tech Grp from a “buy” rating to a “sell” rating in a report on Wednesday, July 25th. JPMorgan Chase & Co. upgraded New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a report on Thursday, July 26th. ValuEngine cut New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Finally, CLSA upgraded New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $107.80.

New Oriental Education & Tech Grp Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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